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Minna Reid's Blog

By Minna Reid | Broker in 06107

A Year in Southington CT Real Estate – 2013 in Review: Demand way up, but prices still left in the dust

Southington, CT Market Report, 2013 in Review:

Sales activity in Southington CT soared in 2013 with an increase of over 33% since 2012 – reaching levels not seen since 2006! Low interest rates and abundant affordable inventory certainly helped spur the massive increase in demand for homes in 2013.

sales_volume_10ys_through_2013_483

Unfortunately, despite a promising increase in sales prices seen early in the year, 2013 ended with a 1% reduction to the average home sales price in Southington. This may be due to more sales of homes in the lower price points, or simply a demand and supply issue. While we’ve made great gains here in Southington, the supply of homes has failed to decrease to a point where demand starts to pull up values.

prices_10_yrs_through_2013_483

With 6 months of inventory currently on market in Southington – the market would be considered balanced…however January is generally a slower time in the real estate selling season as inventory and activity start to increase as we head further into spring.

GET A PROFESSIONAL EVALUATION OF YOUR SOUTHINGTON, CT HOME.

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Minna Reid, REALTOR®
Keller Williams Realty
Southington, CT 
Voice or Text: 860.416.1255
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Minna Reid  is a  CT Licensed Real Estate Broker Associate with Keller Williams Realty, specializing in short sales, serving central CT including, but not limited to; Avon, Berlin, Bristol, Cheshire, Cromwell, Farmington, Glastonbury, Hamden, Meriden, Middlefield, Middletown, Newington, New Britain, North Branford, North Haven, Plainville, Portland, Prospect, Rocky Hill, Southington, Wallingford, West Hartford, Wethersfield and Wolcott. 

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